ChannelAdvisor Corp (ECOM) Upgraded at BidaskClub
BidaskClub upgraded shares of ChannelAdvisor Corp (NYSE:ECOM) from a sell rating to a hold rating in a research note published on Tuesday.
A number of other research analysts have also issued reports on ECOM. First Analysis upgraded ChannelAdvisor Corp from an equal weight rating to an overweight rating and set a $13.00 target price for the company in a report on Thursday, August 31st. DA Davidson began coverage on ChannelAdvisor Corp in a report on Friday, September 22nd. They issued a neutral rating and a $12.50 target price for the company. Needham & Company LLC reiterated a buy rating and issued a $18.00 target price on shares of ChannelAdvisor Corp in a report on Sunday, September 17th. KeyCorp reiterated a hold rating on shares of ChannelAdvisor Corp in a report on Friday, August 25th. Finally, TheStreet lowered ChannelAdvisor Corp from a c- rating to a d+ rating in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. ChannelAdvisor Corp currently has an average rating of Hold and a consensus target price of $14.50.
Shares of ChannelAdvisor Corp (NYSE:ECOM) remained flat at $12.10 during midday trading on Tuesday. The company’s stock had a trading volume of 19,112 shares. The stock’s 50-day moving average price is $11.07 and its 200-day moving average price is $11.22. The company’s market capitalization is $319.82 million. ChannelAdvisor Corp has a 52-week low of $9.80 and a 52-week high of $15.85.
ChannelAdvisor Corp (NYSE:ECOM) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.05). ChannelAdvisor Corp had a negative net margin of 13.28% and a negative return on equity of 19.95%. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $28.65 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that ChannelAdvisor Corp will post ($0.03) EPS for the current fiscal year.
In related news, insider M Scot Wingo sold 15,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $11.72, for a total value of $175,800.00. Following the transaction, the insider now owns 807,896 shares in the company, valued at approximately $9,468,541.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc Huffman purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $10.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now directly owns 36,411 shares in the company, valued at $364,110. The disclosure for this purchase can be found here. Insiders have sold 45,000 shares of company stock worth $498,300 in the last quarter. Insiders own 11.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new position in ChannelAdvisor Corp during the 1st quarter worth approximately $120,000. Citigroup Inc. increased its position in ChannelAdvisor Corp by 166.6% during the 2nd quarter. Citigroup Inc. now owns 10,818 shares of the software maker’s stock worth $125,000 after purchasing an additional 6,760 shares during the period. ClariVest Asset Management LLC acquired a new position in ChannelAdvisor Corp during the 1st quarter worth approximately $136,000. Voya Investment Management LLC acquired a new position in ChannelAdvisor Corp during the 2nd quarter worth approximately $136,000. Finally, Cubist Systematic Strategies LLC acquired a new position in ChannelAdvisor Corp during the 2nd quarter worth approximately $138,000. Hedge funds and other institutional investors own 81.50% of the company’s stock.
ChannelAdvisor Corp Company Profile
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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